Residential Industry set to Spike in 2020
Home building is expected to pick up in the second half of…
16 July 2019
According to BIS Oxford Economics’ Residential Property Prospects 2019-2022, Brisbane’s median house price is forecast to rise by 20 per cent in the next three years, far beyond any other capital city in the same period
The property forecast predicts Brisbane will see gains in house prices as the remaining oversupply is consumed. The median house price is expected to increase from $552,000 to $665,000, the highest rise predicted for our capital cities nationally.
BIS Oxford Economics associate director Angie Zigomanis said “With credit conditions easing and interest rates falling, improving affordability will be a catalyst for raising price growth as stronger economic growth returns and the market moves into a rising deficiency.”
Price growth in the unit sector is expected to take a little longer to return, with a 14% rise in the unit median forecast.
It is predicted much of the growth would be concentrated toward the end of the three-year period.